The personal loan application is subject to a certain formalism to ensure that the financial situation of the borrower will allow him to meet the monthly repayments.
Personal loan: an unallocated consumer credit
The purpose of the personal loan is to finance an expense that is not related to a real estate transaction or the purchase of a car. It is characterized by the fact that it is unallocated , that is to say that it does not finance a specific expenditure . Thus, the borrower is free to use the money to finance the project of his choice: a wedding loan, a travel loan, a loan for high-tech equipment, etc. It can be used in particular to solve a one-time cash flow problem. In any case, no proof is required about the use of the funds: the information may be requested by the broker or the banker, but there is no obligation to provide it!
Supporting documents for a personal loan
The individual making a request for a personal loan constitutes a file whose objective is to determine the most relevant sums and financing methods taking into account the financial situation of the borrower.
The supporting documents for personal loan are therefore related to the marital status , resources and assets of the applicant.
Thus, lending organizations generally ask for supporting documents:
photocopy of the identity document;
proof of address (electricity, gas, water bill less than 6 months old or a recent rent receipt;
a bank (RIB) or postal identity statement;
for employees, a photocopy of the last payslips (generally the last 3);
for self-employed persons and retirees, a photocopy of the latest tax notices;
for owners, a photocopy of the property tax;
the amortization schedules for loans already in progress.
On the other hand, since the personal loan is not assigned to a specific expense, the borrower does not have to provide supporting documents for the personal loan such as an estimate or an order form concerning the use he will make of the borrowed money. .
The credit agency will analyze, using the documents provided, the creditworthiness of the borrower and his ability to repay. This measure protects the individual by minimizing the risk of over-indebtedness.
Can we refuse to provide a document?
Unlike the tax authorities, credit organizations cannot force an individual to provide a document relating to their financial or asset situation. However, refusing to provide a document will likely result in a rejection of the personal loan application . It should be kept in mind that lending institutions have an obligation to check the creditworthiness of their client before granting their request for personal credit.
The provision of false documents
The production of a falsified document in order to support a request for a personal loan is a criminal offense punishable by law. The provision of documents is a protective measure for the individual borrower.
Before any credit application, it is important to carry out a personal loan simulation online, free and without obligation, and to ensure its repayment capacity. You can then use our personal loan comparator with complete peace of mind to obtain the best personal loan rate suited to your profile and your situation.
